Which insurance coverage is required by law in most states quizlet

Auto liability insurance is required in virtually every state. What is bodily injury coverage? It's the part of liability coverage that insures you against the injury you cause to others in an auto accident.

Which insurance coverage is required by law in most states?

With the exception of Florida, every state requires bodily injury liability insurance (BI), while all 50 states plus Washington, D.C., require property damage liability (PD). Roughly half of the states require a type of uninsured/underinsured motorist insurance (UIM).

Which policy is the most widely used homeowners policy quizlet?

What is a Homeowners-3 policy? A Homeowners-3 is a Special Form Policy and is the most widely-used homeowner's policy. This policy covers the owner's property for all risks of physical loss, except those that are specifically excluded, such as flood or earthquake.

What are the two main types of insurance offered in the United States quizlet?

10. The two basic categories of health insurance plans are indemnity (fee-for-service) and managed care. 11. The reason so many Americans Are without healthcare coverage is because of high premium costs and expensive medical treatment.

What is an insurance policy quizlet?

An insurance policy is a legal contract between and insurance company and an insured, in which the insurance company will pay an insured for covered losses in exchange for the insured paying the premiums.